To help organizations that are striving to ensure that employee benefits are equitable and inclusive for all workers, the firm has announced the availability of the Fidelity Benefits Equity Scorecard.
The new offering is part of Fidelity’s broader suite of resources to help employers advance their diversity, equity and inclusions (DE&I) efforts and the company’s larger efforts to improve the financial outcomes for underrepresented and underserved customers, according to the March 3 announcement. “Understanding the varying and diverse needs of a workforce is the first step in designing a program that is equitable and inclusive,” says Ranjan Dutta, senior vice president, Workplace Consulting at Fidelity Investments.
The Benefits Equity assessment and scorecard are part of a holistic approach that evaluates an organization’s complete benefits portfolio. The approach involves capturing current employee sentiment and leveraging technology to help employers measure, track and monitor their benefits program from an equity and inclusion perspective, as well as examining benefits across all four domains of total well-being, including health, life, work and financial well-being.
Details on Fidelity’s approach include:
- reviewing and identifying how well the current benefits programs align and support the organization’s philosophy and business goals;
- assessing the organization’s current benefits portfolio using a proprietary framework, which includes over 300 markers of equity;
- deriving and benchmarking a benefits equity score; and
- implementing an interactive scorecard that shows an objective equity score and combines that with employee sentiment and utilization data.
Fidelity notes that it will also work with organizations to repeat the assessment at regular intervals to measure progress and identify opportunities.
“Diversity, equity and inclusion is a multi-faceted topic each employer approaches differently,” Dutta further emphasizes. “As a result, we’ve created resources that can help our clients address specific aspects of their DE&I strategy while advancing their overall efforts to create a more equitable and inclusive organization.”
